October 31, 2019 Source: People's Network

People's Daily Online, Beijing, October 31 (Yang Yang) The National Bureau of Statistics announced today that in October 2019, China's manufacturing purchasing managers' index (PMI) was 49.3%, and the non-manufacturing business activity index was 52.8%. The output index is 52.0%.

Zhao Qinghe, senior statistician of the Service Industry Survey Center of the National Bureau of Statistics, analyzed that the development of China's manufacturing industry in October mainly showed the following characteristics: First, production continued to expand, market demand declined; second, the foreign trade market operated at a low level, and the price index fell back; It is the continuous advancement of transformation and upgrading; fourth, the confidence of enterprises is relatively stable.

China Manufacturing Purchasing Managers Index

In October 2019, the China Manufacturing Purchasing Managers Index (PMI) was 49.3%, down 0.5 percentage points from the previous month.

In terms of enterprise scale, the PMI of large enterprises was 49.9%, down by 0.9 percentage points from the previous month; the PMI of medium-sized enterprises was 49.0%, which was 0.4 percentage points higher than that of the previous month; the PMI of small enterprises was 47.9%, which was 0.9 percentage points lower than the previous month.

From the classification index, among the five sub-indices that constitute the manufacturing PMI, the production index and supplier delivery time index are above the critical point, and the new order index, raw material inventory index and employee index are below the critical point.

The production index was 50.8%, down 1.5 percentage points from the previous month and still above the critical point, indicating that manufacturing production continued to expand and the pace of expansion slowed down.

The new order index was 49.6%, down 0.9 percentage points from the previous month and fell below the critical point, indicating that demand in the manufacturing market has declined.

The raw material inventory index was 47.4%, a slight decrease of 0.2 percentage points from the previous month. It was below the critical point, indicating that the main raw material inventory of the manufacturing industry decreased.

The employee index was 47.3%, up 0.3 percentage points from the previous month and below the critical point, indicating that the decline in the number of manufacturing enterprises has narrowed.

The supplier's delivery time index was 50.1%, although it was 0.4 percentage points lower than the previous month, but slightly higher than the critical point, indicating that the lead time of manufacturing raw material suppliers was slightly faster than last month.

China Non-manufacturing Purchasing Managers Index

In October 2019, the non-manufacturing business activity index was 52.8%, down 0.9 percentage points from the previous month, indicating that the non-manufacturing industry has generally maintained an expansion trend, and the growth rate has slowed down.

In terms of industries, the service industry business activity index was 51.4%, down 1.6 percentage points from the previous month, and the service industry boomed. From the perspective of industry categories, the business activity index of the air transport industry, postal industry, Internet software information technology services and other industries is located at a higher economic range of 55.0%, and the business volume continues to expand rapidly. The index of business activities in the wholesale industry, capital market services, real estate industry and other industries is in the contraction interval. The index of business activity in the construction industry was 60.4%, up 2.8 percentage points from the previous month and returning to the high-level boom.

The new order index was 49.4%, down 1.1 percentage points from the previous month and below the critical point, indicating a decrease in orders in the non-manufacturing market. In terms of industries, the service industry's new order index was 48.4%, down 1.3 percentage points from the previous month; the construction industry's new order index was 54.8%, down 0.3 percentage points from the previous month.

The input price index was 51.3%, down 1.5 percentage points from the previous month, above the critical point, indicating that the overall level of input prices of non-manufacturing enterprises used for business activities has narrowed. In terms of industries, the service industry input price index was 50.9%, down 1.9 percentage points from the previous month; the construction industry input price index was 53.1%, up 0.6 percentage points from the previous month.

The sales price index was 48.9%, down 1.1 percentage points from the previous month and falling below the critical point, indicating that the overall level of non-manufacturing sales prices fell from the previous month. In terms of industries, the service industry sales price index was 48.4%, down 1.4 percentage points from the previous month; the construction industry sales price index was 52.2%, up 0.8 percentage points from the previous month.

The employee index was 48.2%, which was the same as last month and was below the critical point, indicating a decrease in the number of non-manufacturing enterprises. In terms of industries, the service industry employee index was 47.6%, a slight decrease of 0.1 percentage points from the previous month; the construction industry employee index was 51.8%, up 0.7 percentage points from the previous month.

The business activity expectation index was 60.7%, up 1.0 percentage point from the previous month and rising to a high level, indicating that non-manufacturing companies have increased confidence in future market development. In terms of industries, the service industry business activity expectation index was 60.3%, up 1.0 percentage point from the previous month; the construction industry business activity expectation index was 63.2%, up 1.2 percentage points from the previous month.

China's comprehensive PMI output index operation

In October 2019, the comprehensive PMI output index was 52.0%, down 1.1 percentage points from the previous month, indicating that the overall production and operation activities of Chinese enterprises continued to expand.